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Commerzbank Sets Aside
Provisions for Asian Losses

By

Christopher Rhoads Staff Reporter of The Wall Street Journal

Updated Feb. 3, 1998 12:01 a.m. ET

FRANKFURT -- Commerzbank AG will set aside provisions of more than 900 million marks ($492 million) to cover potential losses from its Asian activities in 1997, becoming the latest European bank to acknowledge damage from the region's turmoil.

About half of its two billion marks of provisions in 1997 is being used to cover Asian risks, the bank said. Still, the third largest bank in Germany said operating earnings for the year increased 25% to 2.3 billion marks. "We believe this covers all foreseeable problems, but...